Pagaya Layoffs
Industry Finance · Location Tel Aviv · Israel · Subscribe (RSS)
Pagaya has 2 publicly reported layoff rounds on record between January 18, 2023 and June 5, 2024. A total of about 240 employees were affected across these rounds.
Layoff history
Pagaya laid off 100 employees, about 20% of its roughly 540-person workforce, in June 2024 as the AI lending platform pushed to reach profitability. Most of the cuts fell on its Israel-based operations, and Yariv Hasar, who had led the Israeli unit for two years, departed as part of the restructuring. The move was the company's second significant reduction in 18 months, following the elimination of 140 positions in early 2023. People familiar with the situation said the goal was to "accelerate the transition to profitability and achieve positive cash flow." The cuts came despite a strong first quarter: Pagaya reported $245.2 million in revenue, up 30% year-over-year, though it still posted a $21.2 million loss. President Sanjiv Das, who joined in October 2023, led the restructuring effort.
Reason: cost reduction to accelerate path to profitability
Source: calcalistech.com
Pagaya disclosed a workforce reduction affecting its Tel Aviv operations in January 18, 2023. Approximately 140 roles were eliminated.
Source: calcalistech.com
Data for Pagaya is compiled from public WARN Act filings and reporting linked above. See our methodology.